Funding arb · Price arb /

DYM

all DYM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against MEXC0.000%7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1061.063% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now 0.000%, 7d avg −0.068%

Together, before fees−0.073%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.068% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DYM_USDT	0.01817	0.0100	pay 0.0050% / 4h	2h 43m	$1.1M	$566K	20x
Short	Hyperliquid DYM	0.01817	0.0100	get 0.0013% / 1h	43m 55s	$365K	$227K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee MEXCbpFee HyperliquidbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.068%: $6.79
Slippage, 4 orders: −$93.28
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$99.49
Costs to cover: 1.063%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Hyperliquid: live order book, 26 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy MEXC live order book, 1 min ago	5.50 bp	13.8 bp −$14	93.0 bp −$930	223.5 bp −$22.3K	484.7 bp −$242.3K
Sell Hyperliquid live order book, 26 min ago	2.73 bp	40.0 bp −$40	doesn't fit	doesn't fit	doesn't fit

DYM on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX DYM-USD	+0.0030%	1h	0.01819	+0.090%	$249	—	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−5.449%	$237	$12K	5.5x	as long as short
Hyperliquid DYMshort	+0.0100%	1h	0.01817	0.000%	$365K	$227K	3x
Aster DYMUSDT	+0.0100%	4h	0.01819	+0.117%	$75K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01818	+0.049%	$2.4M	$4.3M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01816	−0.055%	$769K	$478K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01820	+0.165%	$146K	$88K	25x	as long as short
MEXC DYM_USDTlong	+0.0100%	4h	0.01817	long leg	$1.1M	$566K	20x
Bitget DYMUSDT	+0.0100%	4h	0.01818	+0.055%	$394K	$153K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01818	+0.055%	—	$16.2M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01821	+0.203%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01817	+0.023%	$3K	$151K	5x	as long as short
KuCoin DYMUSDTM	+0.0166%	4h	0.01821	+0.220%	$422K	$126K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.4125%	1h	0.01823	+0.318%	$14K	$4K	10x	as long as short